When upgrading versions of Toad, it is possible to install over the older version, which will keep all connection information and settings into the new Toad. At the beginning of the install, Toad prompts two options
1. New install - Since the current installation of Toad is very old, there may be some problems after the install. In such cases, it is recommended to do a new install of the latest version of TOAD, instead of an upgrade, but this would mean the settings and connection information from the previous version would not be kept.
2. Upgrade. Just select upgrade to install over the previous version on the machine.
NOTE: Another option would be to upgrade and if issues arise, then un-install it and just do a new install at that point.